Vibe talked with the two educated entrepreneurs who are responsible for Panini’ s existence. Mr. Shafqat Rahman and Shahrier Akbar were very keen on sharing insights, motivational advices and challenges they faced.
Vibe talked with the two educated entrepreneurs who are responsible for Panini’ s existence. Mr. Shafqat Rahman and Shahrier Akbar were very keen on sharing insights, motivational advices and challenges they faced.
Photos by: Tashrif Hossain
Vibe: How did you become interested to pursue your career as an entrepreneur?
Shafqat Rahman: While working for British Telecom for more than 3 years in London, I realized I had the right exposure to the business world and gathered enough experience by then to run my own business. My family is into business as well so I always knew I was going to be an entrepreneur one day.
Shahrier Akbar: After working in Texas as a Certified Public Accountant for the past eight years, I always had a passion to come back to Bangladesh and utilize my business acumen to start a business in my community.
Vibe: Why did you specifically choose the food sector to work with?
SA: I ' ve always felt that the number one pastime in Bangladesh has been eating out at different restaurants. As the United States is a melting pot for many peoples and cultures I was able to experience many types of foods, even becoming a " foodie " myself. Ultimately I wanted to be able to bring a unique taste to Bangladesh through a cultural infusion from Italy, the birthplace of the name of my restaurant Panini, which is a pressed toasted sandwich.
Vibe: What were the necessary activities undertaken before opening Panini?
SA: After doing much research, I had to decide on a perfect location viable for sustaining a successful business. In addition, I performed market surveys to become more informed regarding what fresh and new tastes Bangladeshis would be interested in experiencing. After completing a complex business plan, I decided to move forward with opening Panini. Although it has been a tremendous amount of work with hiring chefs, servers, and additional appropriate personnel, the first two months have really been fulfilling.
Vibe: What qualities or qualifications do you feel an entrepreneur will need in starting up in a market such as yours?
SR: It’ s very simple. You need to have a clear vision of what you want to do. Later it’ s all about how you chase your dream and how hard working you are. And something you must not forget – you need to be SMART!( sustainable, measurable, attainable, reliable, time-bound)
Vibe: What are the most challenging aspects / assignments / tasks in running a restaurant?
SR: Maintain quality standards of food and customer service. Inventory happens to be a major issue if not monitored properly. Waiting Staff in Dhaka don’ t really take ownership of their employment properly hence the lacking and inefficiency is sometimes reflected on their work, so giving them the right training, knowledge and keeping them motivated is a challenge itself.
SA: In general, restaurants require prior experience or knowledge of basic restaurant accounting. One challenge at Panini is ensuring that we achieve the appropriate numbers required for profitability. Without the initial capital and the necessary know-how, some restaurants may not make enough to stand on their own. My experience and preparation in budgeting, purchasing and managing the hefty costs that come with the territory is very essential. Another challenge is sticking to the business plan even in times of uncertainty, and taking responsibility for the overwhelming goal of achieving profitability.
Vibe: Many graduates, these days, are choosing entrepreneurship over jobs. What do you think are the reasons behind that?
SA: There are many reasons nowadays for youngsters to contemplate entrepreneurship. I would have to caution that some may have a false sense of how easy it is to start their own business and quickly generate income. If money is the initial driver then I would have to tell them to reevaluate their short term goals. To be a successful entrepreneur there will be many sleepless nights at the beginning and lots of hard work. Being an entrepreneur is a very rewarding experience, but for the right individual with the right combination of passion and determination.
Vibe: Anything for the readers? SR: It’ s not bad to be your own boss, so be it!
SA: Yes!!! This year, students who show a valid student ID will be given a 10 % discount on their final bill.
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